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Fri, 27 Apr 2018 05:44:02 +0000enhourly1https://wordpress.org/?v=4.9.7New Smyrna Beach Real Estate Figures 2017http://rickmellenrealestate.com/new-smyrna-beach-real-estate-figures-2017/
http://rickmellenrealestate.com/new-smyrna-beach-real-estate-figures-2017/#respondFri, 08 Dec 2017 19:27:02 +0000http://rickmellenrealestate.com/?p=3791Though slowly, the real estate market in New Smyrna is surely improving and already greatly improved after the housing bubble. While properties are not as inflated as they used to be pre-recession, they are certainly going back up, so that it is still a great market for both buyers and sellers. According to 2018 New Smyrna […]

Though slowly, the real estate market in New Smyrna is surely improving and already greatly improved after the housing bubble. While properties are not as inflated as they used to be pre-recession, they are certainly going back up, so that it is still a great market for both buyers and sellers.

According to 2018 New Smyrna Beach real estate market statistics estimates, prices of properties are on the rise, but at the same time, the value of existing homes are also gaining. Sellers are less likely to get a lot less money for their properties, and buyers do not have to shell out too much for something on sale.

In 2017, a growth of 2.6% has been reported, and it is estimated that in 2018, a growth of 2.3% will be seen. While this is not necessarily stellar growth or while the real estate market is not necessarily on fire as in other areas in Florida, this is good growth that would benefit everyone, from developers to buyers, sellers, and the community itself as it attracts new residents. Given that inventory is low, this is a great sign that there are very few uninhabited or abandoned properties in town.

Median home values have dipped from almost $280k in 2007 to almost as low as $156k in 2011. From 2013, it has been slowly rising and pre-recession levels might be reached within the next year.

While the low prices have been perfect for investors and for those want to buy and flip properties, homeowners have greatly suffered due to the dramatic sinking of their home’s value.

2. Less People Find The Town Too Expensive

Property owners are not finding it difficult to afford their homes in New Smyrna, so much that only 1.1%, as opposed to a national average of 1.6%, are actually delinquent on their mortgages. There are also only 5.9% of homes in this town (US average is at 10.4%) that have negative equity.

3. Rental Costs Are Rising

Costs of renting a condo or house are much steeper than it used to be. From a low of a little over $1k monthly, it is now almost $1.7k monthly for rental places in Miami. On the contrary, there is a growth in the number of properties that are searching for tenants.

4. Sales Are Not As Strong

Sales have been seesawing for years, which is also influenced by the lack of inventory in the area. While the dips are temporary, this might be attributed to low inventory as well.
In conclusion, New Smyrna Beach is certainly a great place for both investors and those looking for a brand-new home. Slow and steady growth has prevented the town from forcing out its locals due to escalating home values. Should 2018 also follow in the footsteps of 2017, then the real estate market here will remain neutral, not totally positive and not totally negative.

in and around Volusia County and New Smyrna Beach.

]]>http://rickmellenrealestate.com/new-smyrna-beach-real-estate-figures-2017/feed/0Buying Guide for New Smyrna Beach Propertieshttp://rickmellenrealestate.com/buying-guide-new-smyrna-beach-properties/
http://rickmellenrealestate.com/buying-guide-new-smyrna-beach-properties/#respondWed, 25 Oct 2017 21:12:01 +0000http://rickmellenrealestate.com/?p=1There are many smaller communities in sunny Florida that are relatively unknown to investors and those looking to purchase a home where the weather is always warm all-year round. One advantage of these areas is that they are quieter and smaller, which is perfect for families and those who want a more peaceful retirement. Another […]

There are many smaller communities in sunny Florida that are relatively unknown to investors and those looking to purchase a home where the weather is always warm all-year round.

One advantage of these areas is that they are quieter and smaller, which is perfect for families and those who want a more peaceful retirement. Another highlight is that these places will have a lot more nature and outdoor activity options, much more than the metropolitan areas. If you are into spending time in nature and living in pristine communities, then New Smyrna Beach is for you.

Benefits of Living in New Smyrna Beach

If you know this little town and have simply fallen in love with it and the beach that is so accessible, then Rick Mellen as a New Smyrna Beach Realtor can help you find what you are looking for. In order to narrow down the search for a suitable home for you, here are some factors in need of consideration:

Lifestyle

Whether you are looking for a condo or a house, there are quite a few that you might find interesting. You can also find properties that are beachside or within walking distance if you love being close to the water. One huge deciding factor in the search is your lifestyle and preferences so that your realtor can find it easy to narrow down the choices for you and save you time during your search.

Budget

In the same way that the properties are varied in terms of what they can offer you, the prices can also greatly differ. If you are looking for a beachside home, you would have to shell out a little bit more. But if this is way beyond your budget, you can settle for townhouses or condos that are a few minutes’ walk away and may even face the ocean for a fraction of the price. You can also find different areas of New Smyrna Beach that are more affordable, like Edgewater. Despite the lower price, you will still be about a 10-minute drive away from the beach.

Future Plans

Many buyers are looking at New Smyrna Beach for investment purposes, or without the intention of living there personally for a long time. If you have the plan of renting out your property, then it is highly advisable to go for a condo, which is always the most popular when it comes to tenants.

New Smyrna Beach is a growing market, with demand consistently high and inventory low. This is because of the beauty of the little town, plus all the outdoor perks it offers its residents and visitors. In fact, those who have always dreamt of living by the beach in Florida might make their dream come true here. Check out this Market Analysis of the area.

If you have never been to New Smyrna Beach, then head over to experience its charms and find out if this is the perfect place for you. If it is, then get in touch with your realtor to help you find your new home close to the beach and in year-round warm weather.

Contact Rick today for a free market analysis on your property in New Smyrna, or to find your next dream home at 386-956-4868